UPDATE 1-UBS hires former Nomura banker as new Russia chief

* Nick Jordan to replace Steve Meehan in top Russia job

* Bank also boosts its Russia fixed income team

(Adds detail)

MOSCOW, June 10 (BestGrowthStock) – UBS AG (UBSN.VX: )(UBS.N: ) hired
former Nomura (8604.T: ) banker Nick Jordan to head up its
operations in Russia, while bolstering its senior management
team with a string of further appointments.

Jordan was until last year chairman of emerging Europe
investment banking at Japan-based Nomura, having previously been
at Lehman Brothers, the failed U.S. investment bank whose
European and Asian operations were snapped up by Nomura in late
2008.

UBS said in a statement on Thursday outgoing Steve Meehan
would stay at the bank, with a source close to the matter adding
he may take a new role in London or Zurich.

UBS said in separate statements it had made six further
appointments, including new heads of fixed income, currencies
and commodities (FICC) and wealth management.

Alexei Sizov, formerly of Moscow-based emerging markets
specialist Renaissance Capital, will become the new FICC head.

The flurry of new hires comes just months after a similarly
hectic recruitment drive by Renaissance, which signed up new
heads of equities, risk and compliance as it bet on strong
returns in developing markets. [ID:nLDE61B0IM]

Main shareholder and founder Stephen Jennings returned as
CEO to personally drive the expansion.

The fixed income market has proved lucrative for banks in
recent months as a string of interest rate cuts in Russia
sparked a market rally.

Speculation that a tightening could be imminent, along with
recent turmoil in the European Union led by financial woes in
Greece, have added volatility to the market.

UBS added two new fixed income directors to work under Sizov
— Marina Petukhova and Tatiana Merlich — as well as a director
in investment banking, Maxim Ermilov, and new analyst Kirill
Tachennikov.

Stock Market

(Reporting by John Bowker; Editing by Hans Peters and David
Holmes)

UPDATE 1-UBS hires former Nomura banker as new Russia chief